Bitcoin does not refute the thesis that money centralizes decentralized projects: hashing power has slowly become concentrated in mining pools until the majority of that power resides in the single country of China.
Source quote, verbatim
Slowly, Bitcoin hashing power has become more concentrated in mining pools, until today the ma- jority of power resides in the single country of China.
From
Craig Calcaterra, Wulf A. Kaal, Historical Sketches of Centralization vs. Decentralization (2021), The Apaches vs. Bitcoin, p. 22 https://ssrn.com/abstract=3782193 · source PDF
Cite as
Craig Calcaterra, Wulf A. Kaal, Historical Sketches of Centralization vs. Decentralization (2021). SSRN: https://ssrn.com/abstract=3782193
Holds when
Bitcoin after roughly ten years of operation, as of the authors' writing
Classification
empiricalsupport: arguedfailure: Mining power concentrationfamily: recentralization-drifttokenomicsdecentralizationblockchain
Related claims
extendskaal:claim:3227967-032 Existing blockchains and DAOs still lack genuine decentralization, and there are currently no true DAOs: Bitco...
restated_bykaal:claim:3782198-024 Bitcoin proved that a decentralized peer to peer network can manage valuable assets without a central authorit...
Verify
The quote above is an exact substring of the source PDF, whose sha256 is 74df9cc9a19a098bdacd0424a4174795f6e184f7a31c8ee7541195186701ebd2. Extraction method: pdf-text-layer. Attestation record: colloquium/attestations/7533661f4263cf99...json Verify the binding yourself: curl -s https://wulfkaal.github.io/claims/3782193-027.md | sha256sum